Medical Power Supply market is predicted to reach USD 1100 million by 2020, according to Market Data Forecast Report

The Global Medical Power Supply Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Medical Power Supply Market is estimated to be USD 825.12 million in 2015 and predicted to rise to USD 1100 Million by 2020with a CAGR of 5.92%. The market is segmented by Technology (AC-DC and DC-DC power supply) by Type – (Enclosed, External, Open Frame, Configurable and Encapsulated) by Application – (Medical Monitoring Equipment, Diagnostic Equipment, Dental Equipment, Home Patient Care Equipment and Surgical Equipment). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The external medical power supply market is predicted to show the highest growth due to an increase in usage of portable medical devices, which increasingly use external power supply. Further, the upsurge in home healthcare market which comprises portable and convenient to use medical devices is another factor boosting the growth of external medical power supply market.

Geographically, North America represents the largest share of the global medical power supply devices market, mainly due to easy adoption of technological advancements and extensive technical applications of medical power supply devices in the region. Asia, followed by the Europe, is likely to experience high growth rate in the coming few years, where development is centered at India, China, and South Korea regions.

Increasing popularity for powered devices in healthcare sector, due to their user-friendly nature and high efficiency in medical procedures, rise in the geriatric population and enhancement of facilities in healthcare is propelling the growth of global medical power supply market. Along with these, technological developments and support from governments to the usage of medical devices have also helped in growing the market.